Q.Will a lender allow a short sale if the seller has a fair amount of equity?

A.Typically not. When a property has equity, the lender will most often opt to continue with the traditional foreclosure process to regain title to the property and dispose of it at fair market price. However, if there is a glut of homes for sale in your local area, the lender may still consider negotiating a short sale.

© Copyright 1999-2024 Melissa C. Marsh. All Rights Reserved. All Information on this website is subject to a Disclaimer and Use Agreement. This information is provided as general information only and should not be construed as legal advice. We advise you to seek the advice of competent legal counsel to address your own specific questions, facts and circumstances.